New Risk • Jun 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩151.2b (US$96.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩151.2b market cap, or US$96.9m). Reported Earnings • Mar 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₩508 (down from ₩705 in FY 2024). Revenue: ₩210.4b (down 16% from FY 2024). Net income: ₩8.81b (down 28% from FY 2024). Profit margin: 4.2% (down from 4.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Hospitality industry in South Korea. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Mar 13
Modetour Network Inc., Annual General Meeting, Mar 27, 2026 Modetour Network Inc., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 16, eulji-ro, jung-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩11,100, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Hospitality industry in South Korea. Total loss to shareholders of 40% over the past three years. New Risk • Feb 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.7% average weekly change). Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩12,840, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Hospitality industry in South Korea. Total loss to shareholders of 33% over the past three years. Major Estimate Revision • Sep 12
Consensus EPS estimates increase by 60% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ₩244.6m to ₩255.6m. EPS estimate increased from ₩829 to ₩1,325 per share. Net income forecast to grow 74% next year vs 31% growth forecast for Hospitality industry in South Korea. Consensus price target up from ₩12,500 to ₩14,500. Share price rose 8.6% to ₩12,920 over the past week. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩11,160, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Hospitality industry in South Korea. Total loss to shareholders of 51% over the past three years. Reported Earnings • Mar 15
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ₩685 (up from ₩263 in FY 2023). Revenue: ₩251.6b (up 41% from FY 2023). Net income: ₩12.0b (up 162% from FY 2023). Profit margin: 4.8% (up from 2.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 103%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Hospitality industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Announcement • Mar 06
Modetour Network Inc., Annual General Meeting, Mar 21, 2025 Modetour Network Inc., Annual General Meeting, Mar 21, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 16, eulji-ro, jung-gu, seoul South Korea Major Estimate Revision • Jan 15
Consensus EPS estimates fall by 10%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ₩236.4m to ₩254.6m. EPS estimate fell from ₩343 to ₩307 per share. Net income forecast to grow 787% next year vs 70% growth forecast for Hospitality industry in South Korea. Consensus price target of ₩14,000 unchanged from last update. Share price was steady at ₩9,930 over the past week. Price Target Changed • Dec 24
Price target decreased by 17% to ₩14,000 Down from ₩16,833, the current price target is an average from 2 analysts. New target price is 40% above last closing price of ₩9,990. Stock is down 35% over the past year. The company is forecast to post earnings per share of ₩343 for next year compared to ₩263 last year. New Risk • Dec 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.8% Last year net profit margin: 2.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (220% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Major Estimate Revision • Oct 09
Consensus EPS estimates fall by 30% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩259.9m to ₩236.4m. EPS estimate also fell from ₩491 per share to ₩343 per share. Net income forecast to grow 565% next year vs 54% growth forecast for Hospitality industry in South Korea. Consensus price target down from ₩16,833 to ₩16,000. Share price was steady at ₩10,350 over the past week. Price Target Changed • Jul 29
Price target decreased by 10% to ₩17,667 Down from ₩19,667, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₩12,780. Stock is down 14% over the past year. The company is forecast to post earnings per share of ₩985 for next year compared to ₩263 last year. Major Estimate Revision • May 21
Consensus revenue estimates increase by 14% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩261.1m to ₩297.0m. EPS estimate increased from ₩887 to ₩969 per share. Net income forecast to grow 301% next year vs 24% growth forecast for Hospitality industry in South Korea. Consensus price target of ₩18,500 unchanged from last update. Share price fell 3.1% to ₩15,760 over the past week. Announcement • Apr 05
Modetour Network Inc. (KOSDAQ:A080160) announces an Equity Buyback for KRW 5,000 million worth of its shares. MODETOUR NETWORK Inc. (KOSDAQ:A080160) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with Mirae Asset Daewoo Securities Co. Ltd. The purpose of the program is to improve shareholder value and to stabilize the stock price. The plan will be valid up to April 3, 2025. As of April 3, 2024, the company had 1,245,599 shares in treasury within scope available for dividend and 3,322 shares in treasury through other repurchase. Reported Earnings • Mar 19
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₩263 (up from ₩1,391 loss in FY 2022). Revenue: ₩178.6b (up ₩149.1b from FY 2022). Net income: ₩4.57b (up ₩28.7b from FY 2022). Profit margin: 2.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 1.6%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Hospitality industry in South Korea. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Dec 30
Price target decreased by 19% to ₩16,000 Down from ₩19,667, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₩15,240. Stock is down 11% over the past year. The company posted a net loss per share of ₩1,270 last year. Price Target Changed • Aug 22
Price target decreased by 8.5% to ₩19,667 Down from ₩21,500, the current price target is an average from 3 analysts. New target price is 19% above last closing price of ₩16,590. Stock is up 6.3% over the past year. The company is forecast to post earnings per share of ₩449 next year compared to a net loss per share of ₩1,270 last year. Major Estimate Revision • Jan 20
Consensus revenue estimates increase by 13% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from ₩39.2m to ₩44.1m. Forecast losses expected to reduce from -₩1,034 to -₩1,012 per share. Hospitality industry in South Korea expected to see average net income growth of 227% next year. Consensus price target up from ₩21,500 to ₩27,500. Share price rose 14% to ₩21,350 over the past week. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to ₩20,900, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 11x in the Hospitality industry in South Korea. Total returns to shareholders of 29% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Oct 18
Price target decreased to ₩25,750 Down from ₩28,286, the current price target is an average from 5 analysts. New target price is 57% above last closing price of ₩16,450. Stock is down 36% over the past year. The company is forecast to post a net loss per share of ₩1,251 compared to earnings per share of ₩1,076 last year. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to ₩18,150, the stock trades at a trailing P/E ratio of 19.1x. Average forward P/E is 10x in the Hospitality industry in South Korea. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩25,426 per share. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩15,950, the stock trades at a trailing P/E ratio of 16.8x. Average forward P/E is 8x in the Hospitality industry in South Korea. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩23,192 per share. Price Target Changed • Apr 27
Price target increased to ₩31,000 Up from ₩28,286, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₩22,500. Stock is up 3.0% over the past year. The company is forecast to post earnings per share of ₩8.33 for next year compared to ₩1,076 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Mar 16
Price target increased to ₩30,667 Up from ₩28,286, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ₩23,400. Stock is down 2.3% over the past year. The company is forecast to post a net loss per share of ₩1,000 next year compared to a net loss per share of ₩3,703 last year. Major Estimate Revision • Jul 24
Consensus revenue estimates fall to ₩44.0m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ₩51.3m to ₩44.0m. Forecast losses increased from -₩768 to -₩905 per share. Hospitality industry in South Korea expected to see average net income growth of 80% next year. Consensus price target of ₩31,571 unchanged from last update. Share price was steady at ₩24,600 over the past week. Major Estimate Revision • Jun 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₩50.3m to ₩55.4m. EPS estimate reaffirmed at -₩630 per share. Hospitality industry in South Korea expected to see average net income growth of 89% next year. Consensus price target up from ₩28,286 to ₩31,571. Share price was steady at ₩28,900 over the past week. Major Estimate Revision • Jun 05
Consensus EPS estimates fall to -₩630 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ₩51.3m to ₩50.3m. Losses expected to increase from -₩483 to -₩630. Hospitality industry in South Korea expected to see average net income growth of 93% next year. Consensus price target up from ₩25,374 to ₩27,429. Share price rose 9.4% to ₩29,550 over the past week. Major Estimate Revision • Feb 24
Analysts update estimates The 2021 consensus revenue estimate was lowered from ₩124.2m to ₩96.8m. Earning per share (EPS) estimate was unchanged from the last update at -₩408. The Hospitality industry in South Korea is expected to see an average net income growth of 46% next year. The consensus price target of ₩26,167 was unchanged from the last update. Share price is up 2.8% to ₩23,800 over the past week. Price Target Changed • Jan 23
Price target raised to ₩18,167 Up from ₩16,167, the current price target is an average from 7 analysts. The new target price is 24% below the current share price of ₩23,950. As of last close, the stock is up 48% over the past year. Is New 90 Day High Low • Jan 12
New 90-day high: ₩22,750 The company is up 73% from its price of ₩13,150 on 14 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩46,167 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩120 Per Share Will be paid on the 24th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.6% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.6%). Is New 90 Day High Low • Nov 04
New 90-day high: ₩14,450 The company is up 29% from its price of ₩11,200 on 06 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩16,641 per share. Is New 90 Day High Low • Oct 12
New 90-day high: ₩13,900 The company is up 38% from its price of ₩10,100 on 14 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩6,182 per share.